f. Provision for Customer / Sales returns

The Company accounts for sales returns accrual by recording an allowance for sales returns concurrent with
the recognition of revenue at the time of a product sale. This allowance is based on the Company's estimate of
expected sales returns. With respect to established products, the Company considers its historical experience of
sales returns, levels of inventory in the distribution channel, estimated shelf life, to the extent each of these factors
impact the Company's business and markets. With respect to new products introduced by the Company, such
products have historically been either extensions of an existing line of product where the Company has historical
experience or in therapeutic categories where established products exist and are sold either by the Company.

g. Other estimates

The preparation of financial statements involves estimates and assumptions that affect the reported amount of
assets, liabilities, disclosure of contingent liabilities at the date of financial statements and the reported amount
of revenues and expenses for the reporting period. Specifically, the Company estimates the probability of
collection of accounts receivable by analysing historical payment patterns, customer concentrations, customer
credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional
allowances may be required.

iii) Revenue Recognition:

Revenue from Contracts with Customers

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue
can be reliably measured, regardless of when the payment is being made.

Revenue is measured at the transaction price for each separate performance obligation, taking into account contractually
defined terms of payment and excluding taxes or duties collected on behalf of the government. The transaction price is net
of estimated Sales returns, rebates and other similar allowances.

a) Sale of Goods

Revenue from the sale of goods is recognized at that point in time, the customer has the ability to direct the use of,
and obtain substantially all of the remaining benefits from, the asset or to restrict the access of other entities to those
benefits.

The time taken from entering into order and sale is less than 12 months and the normal credit period offered to customers
is also less than 12 months. The company offers trade Discount, Quantity Discount, cash Discount, Discount for Shortage
or quality issue discount which are factored while determining transaction price. Revenue is recognised such that
significant reversal is not highly probable. The reconciliation between the contract price and revenue recognised is
given in Note 32.

When the consideration is received, before the Company transfers goods to the customer, the Company presents the
consideration as a contract liability.

b) Rendering of Services

Revenue from Job work service contracts

i) Job Work service contracts are recognised at point in time as control is transferred to the customer only on dispatch.
and

ii) the revenue relating to supplies are measured in line with policy set out in 4(iii)(a).

When the consideration is received, before the Company transfers goods to the customer, the Company shall
present the consideration as a contract liability and when the services rendered by the Company exceed the
payment, a contract asset is recognised excluding any amount presented as receivable.

c) Export Incentives

Export entitlements are recognized in the profit or loss when the right to receive credit as per the terms of scheme
is established in respect of the exports made and where there is no significant uncertainty regarding the ultimate
collection of the relevant export proceeds.

d) Interest Income

Interest income is calculated by applying the effective interest rate to the gross carrying amount of the fainancial assets
except when the financial asset is credit-impaired in which case the effective interest rate is applied to the amortised
cost of the financial asset.Effective interest rate is the rate that exactly discounts estimated future cash receipts through
the expected life of the financial asset to that asset's gross carrying amount on initial recognition.

iv) Property, Plant & Equipment:

Property, Plant & Equipment

Property, plant and equipment are tangible items that are held for use in the production or supply of goods and services,
rental to others or for administrative purposes and are expected to be used during more than one period. The cost of an item
of property, plant and equipment is recognised as an asset if and only, if it is probable that future economic benefits associated
with the item will flow to the Company and the cost of the item can be measured reliably. Freehold land is carried at cost
less accumulated impairment losses. All other items of property, plant and equipment are stated at cost less accumulated
depreciation and accumulated impairment losses.

Cost of an item of property, plant and equipment comprises:

• Its purchase price, all costs including financial costs till commencement of commercial production are capitalized to the
cost of qualifying assets. Tax credit, if any, are accounted for by reducing the cost of capital goods;

• Any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by management.

All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

An item of property, plant and equipment is de recognised upon disposal or when no future economic benefits are expected
to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property,
plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and
is recognised in profit or loss.

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that
necessarily take a substantial period of time to get ready for their intended use, are added to the cost of those assets, until
such time as the assets are substantially ready for their intended use.

Capital Work-in-progress

Capital work in progress is stated at cost, comprising direct cost, related incidental expenses and attributable borrowing cost
and net of accumulated impairment losses, if any. All the direct expenditure related to implementation including incidental
expenditure incurred during the period of implementation of a project, till it is ready for use in intended manner, is accounted
as Capital work in progress (CWIP) and subsequently the same is transferred / allocated to the respective item of property,
plant and equipment. Pre-operating costs, being indirect in nature, are expensed to the profit or loss as and when incurred.

Compensation for impairment:

The Company recognises compensation from third parties for items of property, plant and equipment that were impaired,
lost or given up in profit or loss when the compensation becomes receivable.

Derecognition of Property, Plant and Equipment:

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic
benefits are expected from its use or disposal. The gain or loss from the derecognition of an item of property, plant and
equipment is recognised in the profit or loss when the item is derecognized.

v) Depreciation on Property, Plant & Equipment:

Depreciation is provided on straight line method for property, plant and equipment so as to expense the cost over their
estimated useful lives based on evaluation which are as indicated in Schedule II to Companies Act,2013. The residual values,
useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and
adjusted prospectively, if appropriate.Depreciable amount of an item of property, plant and equipment is arrived at after
deducting estimated residual value. The depreciable amount of an asset is allocated on a systematic basis over its useful life.
Depreciation commences when the item of property, plant and equipment is in the location and condition necessary for it
to be capable of operating in the manner intended by management. Depreciation ceases at the earlier of the date that the
asset is classified as held for sale (or included in a disposal group that is classified as held for sale) and the date that the asset
is derecognized. The Company review the depreciation method at each financial year-end and if, there has been a significant
change in the expected pattern of consumption of the future economic benefits embodied in the asset, the method is
changed to reflect the changed pattern. Such a change is accounted as a change in accounting estimate on prospective basis.

vi) Intangible Assets and Amortization:

The Company identifies an identifiable non-monetary asset without physical substance as an intangible asset. The Company
recognises an intangible asset if it is probable that expected future economic benefits attributable to the asset will flow
to the entity and the cost of the asset can be measured reliably. An intangible asset is initially measured at cost unless
acquired in a business combination in which case an intangible asset is measured at its fair value on the date of acquisition.
The Company identifies research phase and development phase of an internally generated intangible asset. Expenditure
incurred on research phase is recognised as an expense in the profit or loss for the period in which incurred. Expenditure on
development phase are capitalised only when the Company is able to demonstrate the technical feasibility of completing
the intangible asset, the ability to use the intangible asset and the development expenditure can be measured reliably. The
Company subsequently measures all intangible assets at cost less accumulated amortisation less accumulated impairment.
An intangible asset is amortised on a straight-line basis over its useful life. Amortization commences when the asset is in the
location and condition necessary for it to be capable of operating in the manner intended by management. Amortization
ceases at the earlier of the date that the asset is classified as held for sale (or included in a disposal group that is classified
as held for sale) and the date that the asset is derecognised. The amortization charge for each period is recognised in profit
or loss unless the charge is a part of the cost of another asset. The amortization period and method are reviewed at each
financial year end. Any change in the period or method is accounted for as a change in accounting estimate prospectively.
The Company derecognises an intangible asset on its disposal or when no future economic benefits are expected from its
use or disposal and any gain or loss on derecognition is recognised in profit or loss account as gain / loss on derecognition of
asset.

vii) Inventories:

Raw Materials, Packing Materials, Stores and Spares

Raw Materials, Packing Materials, Stores & Spares and consumables are valued at lower of cost (net of refundable taxes and
duties) and net realisable value. The cost of these items of inventory are determined on FIFO basis and comprises of cost of
purchase and other incidental costs incurred to bring the inventories to their location and condition. Materials and other
items held for use in the production of inventories are not written down below cost if the finished products in which they will
be incorporated are expected to be sold at or above cost.

Finished Goods and Work-in-progress

Work-in-progress and finished goods are valued at lower of cost and net realisable value. The cost of work-in-progress and
finished goods of inventory is determined on weighted average basis. The cost of work-in-progress and finished goods
includes cost of conversion and other costs incurred to bring the inventories to their present location and condition. Obsolete,
slow moving and defective inventories are identified and valued at lower of cost and net realisable value.

Stock in Trade

Stock in Trade is valued at lower of cost and net realisable value. Cost is determined on FIFO basis.

viii) Leases:

As a Lessee

The Company's leased assets consist of leases for Land. At inception of a contract, the company assesses whether a contract
is, or contains, a lease. A contract is or contains, a lease if the contract conveys the right to control the use of an identified
asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of
an identified asset, the company assesses whether: (i) the contract involves the use of an identified asset (ii) the company has
the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and (iii) the
company has the right to direct the use of the asset.

The Company recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is
initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or
before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the
underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.

The right-to-use asset is subsequently depreciated using the straight-line method from the commencement date to the
earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-
use assets are determined on the same basis as those of Property, Plant and Equipment. In addition, the right-of-use asset is
periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement
date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's
incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate.

The lease liability is subsequently measured as given below:

(a) increasing the carrying amount to reflect interest on the lease liability;

(b) reducing the carrying amount to reflect the lease payments made; and

(c) remeasuring the carrying amount to reflect any reassessment or lease modifications.

When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-
to-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

Short-term leases and leases of low-value assets

The Company has elected not to recognise right-to-use assets and lease liabilities for short term lease that have a lease term
of 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases
on straight line basis as per the terms of the lease.

ix) Financial Instruments:

Financial Assets

a. Initial recognition and measurement

All financial assets and financial liabilities except trade receivables are initially measured at fair value. Fair value is
adjusted for transaction costs if the financial asset or financial liability is not classified as subsequently measured at fair
value through profit or loss. Trade receivables are initially measured at transaction price.

b. Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

i) Financial assets measured at amortised cost and

ii) Financial assets at fair value through profit or loss (FVTPL)

The Company classifies its financial assets in the above mentioned categories based on:

a) The Company's business model for managing the financial assets, and

b) The contractual cash flows characteristics of the financial asset.

i) Financial assets measured at amortised cost :

A financial asset is measured at amortised cost if both of the following conditions are met:

a) A financial asset is measured at amortised cost if the financial asset is held within a business model whose objective
is to hold financial assets in order to collect contractual cash flows and the Contractual terms of the financial assets
give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal
amount outstanding.

b) Financial assets are subsequently measured at amortised cost using the effective interest rate (EIR) method.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that
are an integral part of the EIR. The EIR amortisation is included in finance income in the profit or loss. The losses
arising from impairment are recognised in the profit or loss.

Trade receivables, Advances, Security Deposits, Cash and Cash Equivalents etc. are classified for measurement at
amortised cost.

ii) Financial assets at fair value through profit or loss (FVTPL):

A financial asset is measured at fair value through profit or loss unless it is measured at amortised cost or fair value
through other comprehensive income. In addition, The Company may elect to designate a financial asset, which

otherwise meets amortised cost , as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a
measurement or recognition inconsistency (referred to as 'accounting mismatch').

c. Derecognition

The Company derecognizes a financial asset when contractual rights to the cash flows from the asset expire, or when it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.

On derecognition of a financial asset in its entirety, the difference between the asset's carrying amount and the sum of the
consideration received and receivable is recognized in the profit or loss.

d. Impairment

The Company applies expected credit losses (ECL) model for measurement and recognition of loss allowance on the following:

i. Trade receivables,

ii. Financial assets measured at amortized cost (other than trade receivables),

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all
the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate.

In case of trade receivables, the Company follows a simplified approach wherein an amount equal to lifetime ECL is measured
and recognized as loss allowance. As a practical expedient, the Company uses a provision matrix to measure lifetime ECL on
its portfolio of trade receivables.

In case of other assets (listed as ii and iii above), the Company determines if there has been a significant increase in credit risk
of the financial asset since initial recognition. If the credit risk of such assets has not increased significantly, an amount equal
to 12-month ECL is measured and recognized as loss allowance. However, if credit risk has increased significantly, an amount
equal to lifetime ECL is measured and recognized as loss allowance.

Subsequently, if the credit quality of the financial asset improves such that there is no longer a significant increase in credit
risk since initial recognition, the Company reverts to recognizing impairment loss allowance based on 12-month ECL.
Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial asset.
12-month ECL are a portion of the lifetime ECL which result from default events that are possible within 12 months from the
reporting date.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the profit or loss.

ECL are measured in a manner that they reflect unbiased and probability weighted amounts determined by a range of
outcomes, taking into account the time value of money and other reasonable information available as a result of past events,
current conditions and forecasts of future economic conditions.

Financial Liabilities

a. Initial recognition and measurement

At initial recognition, the Company measures a financial liabilities (which are not measured at fair value) through profit
or loss at its fair value plus or minus transaction costs that are directly attributable to the financial liability.

The company's financial liabilities include trade and other payables, loans and borrowings, bank overdrafts and financial
guarantee.

b. Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

i) Financial liabilities measured at amortised cost.

ii) Financial liabilities at fair value through profit or loss (FVTPL).

i) Financial liabilities measured at amortised cost :

All financial liabilities are measured at amortised cost. Any discount or premium on redemption/ settlement is
recognised in the Profit or Loss as finance cost over the life of the liability using the effective interest method and
adjusted to the liability figure disclosed in the Balance Sheet.

ii) Financial liabilities at fair value through profit or loss (FVTPL):

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified
as held for trading if they are incurred for the purpose of repurchasing in the near term. Gains or losses on liabilities
held for trading are recognised in the profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at
the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPL,
fair value gains/ losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not
subsequently transferred to profit or loss. However, the company may transfer the cumulative gain or loss within
equity. All other changes in fair value of such liability are recognised in the profit or loss.

c. Derecognition

Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is
discharged or cancelled or expiry. When an existing financial liability is replaced by another from the same lender
on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or
modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference
in the respective carrying amounts is recognised in the profit or loss.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities.

Derivative financial instruments

The Company enters into a variety of derivative financial instruments to manage its exposure to foreign exchange rate
risks and interest rate risks.

Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently
remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or
loss immediately unless the derivative is designated and effective as a hedging instrument, in which the timing of the
recognition in profit or loss depends on the nature of the hedging relationship and the nature of the hedged item.

Off setting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the standalone balance sheet if there
is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis,
to realize the assets and settle the liabilities simultaneously.

x) Cash and cash equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original
maturity of three months or less from the date of acquisition), which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company's cash management.

xi) Employee benefits

Short term employee benefits

Short Term benefits are recognised as an expense at the undiscounted amounts in the profit or loss of the year in which
the related service is rendered.

Post employment benefits

a. Defined contribution plans

The Employee and Company make monthly fixed Contribution to Government of India Employee's Provident Fund
equal to a specified percentage of the employees' salary, Provision for the same is made in the year in which service
are rendered by employee.

b. Defined benefit plans

The Liability for Gratuity to employees, which is a defined benefit plan, as at Balance Sheet date determined on
the basis of actuarial Valuation based on Projected Unit Credit method is funded to a Gratuity fund administered
by the trustees and managed by Life Insurance Corporation of India and the contribution thereof paid/payable is
absorbed in the accounts.

The present value of the defined benefit obligations is determined by discounting the estimated future cash
flows by reference to market yields at the end of the reporting period on government bonds that have terms
approximating to the terms of the related obligation. The net interest cost is calculated by applying the discount
rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in
employee benefit expenses in the profit or loss.

Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions
are recognized in the period in which they occur, directly in other comprehensive income. They are included in
retained earnings in the statement of changes in equity and in balance sheet. Changes in present value of the
defined benefit obligation resulting from plan amendment or curtailments are recognized immediately in profit or
loss as past service cost.

xii) Income Taxes:

a) Current tax:

Current tax is determined on income for the year chargeable to tax on the basis of the tax laws enacted or
substantively enacted at the end of the reporting period. Current tax items are recognised in correlation to the
underlying transaction either in profit or loss or OCI or directly in equity. The Company has provided for the tax
liability based on the significant judgment that the taxation authority will accept the tax treatment.

b) Deferred tax:

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
balance sheet and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are
recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary
differences, unabsorbed losses and tax credits to the extent that it is probable that future taxable profits will be
available against which those deductible temporary differences, unabsorbed losses and tax credits will be utilised.
The carrying amount of deferred tax assets is reviewed at the end of financial year and reduced to the extent
that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be
recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period
in which the liability is expected to be settled or the asset realised, based on tax rates and tax laws that have been
substantively enacted by the balance sheet date. Deferred tax assets and liabilities are offset when there is a legally
enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes
levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a
net basis.

The Company restricts recognition of deferred tax asset on unabsorbed depreciation to the extent of the
corresponding deferred tax liability in absence of availability of sufficient future taxable profit which allow the full
or part of the assets to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.

xiii) Earnings per equity share:

Basic earnings per share is calculated by dividing the profit or loss for the period attributable to the equity holders of
the Company by the weighted average number of ordinary shares outstanding during the year. For the purpose of
calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential
equity shares.

(xiv) Statement of Cash flows

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is adjusted for the effects of
transactions of non cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows
from operating, investing and financing activities of the Company are segregated based on the available information.

4.1 Standards issued but not yet effective

(a) The MCA notified Ind AS 117 on 9 September 2024 to be applicable from 1 April 2024. However, the same was withdrawn
vide notification dated 28 September 2024 wherein the applicability of Ind AS 117 was made subject to notification of
IRDAI. IRDAI has not notified Ind AS 117. Therefore, as of now, Ind AS 117 has been issued but from when it will be
applicable is uncertain. The company is evaluating the impact of the standard on its balance sheet, Profit or Loss and
statement of cash flows.

(b) Ministry of Corporate Affairs vide its notification no. G.S.R. 291(E) dated 7^th May 2025 has issued an amendment to Ind
AS 21 providing guidance on determining exchange rate in case of lack of exchangeability. The amendment is effective
from 1 April 2025. In accordance with the amendment to Ind AS 21 - Lack of Exchangeability, the Company is required
to estimate the exchange rate using the most reliable inputs available. The company is evaluating the impact of the
amendment to Ind AS 21 on its balance sheet, Profit or Loss and statement of cash flows.

(d) Rights, Preferences and Restrictions attached to equity shares

The company has only one type of equity share of ' 10 each listed on BSE & NSE. Each of the share holders has right give
one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the Board of
Director is subject to the approval of the shareholders in the Annual General Meeting. In the event of liquidation of the
Company, the equity shareholders shall be entitled to proportionate share of their holding in the assets remaining after
distribution of all preferential amounts.

(e) The Company has not reserved any share for issue under options and contracts or commitments for the
sale of shares or disinvestment.

(f) The Company declares and pays dividends in Indian Rupees. The Dividend proposed by the Board of
Director is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(g) In the Period of five years immediately preceding 31^st March,2025

In Fy.2021-22 on account of Amalgamation, the company had alloted 29,728 Shares to the eligible Share Holders of the
transferor company as per the Order of Hon'ble National Company law Tribunal except that the company has not alloted
any equity shares as fully paid up without payment being received in cash or as Bonus shares or Bought back any equity
Shares. Further in the period of last five years the company has not forfeited any amount received on issue of Shares.

Capital Reserve:

Capital reserve was realised in cash and further created on amalgamation of company and can be utilised by the
company as per provisions of the Companies Act, 2013.

General Reserve:

General reserve is created from time to time by transfer of profits from retained earnings. It does not include any item
which is transferred from other comprehensive income or equity component of financial instruments. General Reserve
can be utilized by the company for distribution to its equity shareholders of the company.

Equity Security Premium:

The amount received in excess of face value of the equity shares is recognized in equity security premium. Being realized
in cash, the same can be utilized by the company as per provisions of the Companies Act, 2013.

Retained earnings:

Retained earnings can be utilized by the company for distribution to its equity shareholders of the company. The
amount that can be distributed by the Company as dividends to its equity shareholders is determined based on the
requirements of the Companies Act, 2013. Thus, the amounts reported above are not distributable in entirety.

45. Details of Employee Benefits:

(a) Defined Contribution Plans

The Company offers its employees benefits under defined contribution plans in the form of provident fund. Provident fund
cover substantially all regular employees which are on payroll of the company. Both the employees and the Company pay
predetermined contributions into the provident fund and approved superannuation fund. The contributions are normally
based on a certain proportion of the employee's salary and are recognised in the Statement of Profit and Loss as incurred.

A sum of ' 68.57 Lakhs (March 31,2024: ' 63.89 Lakhs) has been charged to the Statement of Profit and Loss in respect
of this plan.

(b) Defined Benefit Plan - Gratuity:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets
a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded
with Life Insurance Corporation of India in the form of a qualifying insurance policy.

The fund is managed by a trust which is governed by the Board of Trustees. The Board of Trustees are responsible for the
administration of the plan assets and for the definition of the investment strategy.

F. Characteristics of defined benefit plans and risks associated with them:

Valuation of defined benefit plan are performed on certain basic set of pre-determined assumptions and other
regulatory framework which may vary over time. Thus, the Company is exposed to various risks in providing the
above benefit plans which are as follows:

a. Interest Rate Risk:

A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability
requiring higher provision. A fall in the discount rate generally increases the mark to market value of the
assets depending on the duration of asset.

b. Salary Escalation Risk:

The present value of the defined benefit plan liability is calculated by reference to the future salaries of
members. As such, an increase in the salary of the members more than assumed level will increase the plan's
liability.

c. Investment Risk:

The present value of the defined benefit plan liability is calculated using a discount rate which is determined
by reference to market yields at the end of the reporting period on government bonds. If the return on plan
asset is below this rate, it will create a plan deficit. Currently, for the plan in India, it has a relatively balanced
mix of investments in government securities, and other debt instruments.

46. Segment Reporting

The Company's management, consisting of the managing director, the chief financial officer and other key managerial
personnel for corporate planning, monitors the operating results of the below business segments separately for the purpose
of making decisions about resource allocation and performance assessment and accordingly, based on the principles for
determination of segments given in Indian Accounting Standard 108"Operating Segments " and in the opinion of management
the Company is primarily engaged in the business of "Pharmaceutical Products" All other activities of the Company revolve
around the main business and as such there is no separate reportable business segment.

The above fair value hierarchy explains the judgements and estimates made in determining the fair values of the financial
instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost for which fair values are
disclosed in the financial statements. To provide the indication about the reliability of the inputs used in determining fair
value, the Company has classified its financial instruments in to three levels prescribed is as under:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(i.e. as prices ) or indirectly (i.e. derived from prices)

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)

There were no transfers between the levels during the year

Valuation process

The finance department of the Company includes a team that performs the valuations of financial assets and liabilities required
for financial reporting purposes, including level 3 fair values. The fair valuation of level 1 and level 2 classified assets and liabilities
are readily available from the quoted prices in the open market and rates available in secondary market respectively.

The carrying amount of trade receivable, trade payable, cash and bank balances, short term loans and advances, receivable,
short term borrowing, employee dues are considered to be the same as their fair value due to their short-term nature.

48 Financial risk management

The Company's activities expose it to a variety of financial risks, including credit risk, market risk and liquidity risk. The
Company's primary risk management focus is to minimize potential adverse effects of market risk on its financial performance.
The Company's risk management assessment and policies and processes are established to identify and analyse the risks
faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same.

The Company's risk management is governed by policies and approved by the board of directors. Company identifies,
evaluates and hedges financial risks in close co-operation with the Company's operating units. The company has policies for
overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk,
use of derivative financial instruments and non-derivative financial instruments.

The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk
management framework. The Company manages market risk through a treasury department, which evaluates and exercises
independent control over the entire process of market risk management. The treasury department recommends risk
management objectives and policies, which are approved by Board of Directors. The activities of this department include
management of cash resources, borrowing strategies, and ensuring compliance with market risk limits and policies.

The Company's risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are
reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training
and management standards and procedures, aims to maintain a disciplined and constructive control environment in which
all employees understand their roles and obligations.

The audit committee oversees how management monitors compliance with the company's risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The
audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews
of risk management controls and procedures, the results of which are reported to the audit committee.

I Credit Risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the
Company. The Company is exposed to credit risk from its operating activities (primarily trade receivables),Loans, cash
and cash equivalents and other financial instruments.

Customer credit risk is managed by each business unit subject to the Company's established policy, procedures and
control relating to the customer credit risk management. Outstanding customer receivables are regularly monitored
and taken up on case to case basis. The Company has adopted a policy of dealing with creditworthy counterparties
and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults.
The Company's exposure and the credit scores of its counterparties are continuously monitored. Credit exposure is
controlled by counterparty limits that are reviewed and approved by the management team on a regular basis. The
Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in
several jurisdictions representing large number of minor receivables operating in largely independent markets.

The credit risk on cash and bank balances and derivative financial instruments is limited because the counterparties are
banks with high credit ratings assigned by international credit rating agencies.

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from the Company's receivables from customers. Credit risk is
managed through credit approvals, establishing credit limits, and continuously monitoring the creditworthiness of
customers to which the Company grants credit terms in the normal course of business. The history of trade receivables
shows a negligible provision for bad and doubtful debts. The Company establishes an allowance for doubtful debts and
impairment that represents its estimate of expected losses in respect of trade and other receivables and investments.
The company has adopted simplified approach of ECL model for impairment. The Company has assessed that credit risk
on investments, Cash and cash Equivalents & Other bank balance, loans given & other financial assets is insignificant
based on the empirical data.

1) Trade Receivables:

The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer operates,
also has an influence on credit risk assessment. The Company with various activities as mentioned above manages

credit risk. An impairment analysis is performed at each reporting date on an individual basis for major customers. In
addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment
collectively. The calculation of the same is based on historical data. The Company does not hold collateral as security.

The Company reviews trade receivables on periodic basis and makes provision for doubtful debts if collection
is doubtful. The Company also calculates the expected credit loss (ECL) for non-collection of receivables. The
Company makes additional provision if the ECL amount is higher than the provision made for doubtful debts. In
case the ECL amount is lower than the provision made for doubtful debts, the Company retains the provision made
for doubtful debts without any adjustment.

The provision for doubtful debts including ECL allowances for non-collection of receivables and delay in collection,
on a combined basis, was ' 186.92 Lakhs as at March 31, 2025 and ' 215.59 Lakhs as at March 31, 2024. The
movement in allowances for doubtful accounts comprising provision for both non-collection of receivables and
delay in collection is as follows:

2) Financial assets that are neither past due nor impaired

The company has assessed that credit risk on investments, loans given & other financial assets is insignificant
based on the empirical data. Credit risk from balances with banks and financial institutions is managed by the
Company's treasury department in accordance with the Company's assessment of credit risk about particular
financial institution. None of the Company's cash equivalents & other bank balance, including term deposits (i.e.,
certificates of deposit) with banks, were past due or impaired as at each balance sheet date.

II Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages liquidity risk by maintaining adequate reserves, banking facilities including approved borrowing
facilities sanctioned by the Parent Company, by continuously monitoring forecast and actual cash flows and matching
the maturity profiles of financial assets and liabilities. Long-term borrowings generally mature between One to Ten
years. The Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity
to meet its liabilities when due. The Company's policy is to manage its borrowings centrally using mixture of long-term
and short-term borrowing facilities to meet anticipated funding requirements.

The Company has access to a sufficient variety of sources of funding and debt maturing within 12 months can be rolled
over with existing lender. As of March 31,2025 and March 31,2024; the Company had unutilized credit limits from banks
of ' 7,700.00 Lakhs and ' 8,600.00 Lakhs respectively. The tables below analyze the company's financial liabilities into
relevant maturity groupings based on their contractual maturities.

III Market Risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes
in market rates and prices (such as interest rates, foreign currency exchange rates and commodity prices) or in the
price of market risk-sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is
attributable to all market risk-sensitive financial instruments, all foreign currency receivables and payables and all short
term and long-term debt. The Company is exposed to market risk primarily related to foreign exchange rate risk and
commodity risk.

a) Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates
primarily to the Company's operating activities (when revenue or expense is denominated in a foreign currency).

The Company's foreign exchange risk arises mainly from following activities:

Foreign currency revenues and expenses (primarily in USD; EURO; CAD and BWP) : A portion of the Company's
revenues are in these foreign currencies, while a significant portion of its costs are in Indian Rupees. As a result, if
the value of the Indian rupee appreciates relative to these foreign currencies, the Company's revenues measured
in Indian Rupees may decrease. The exchange rate between the Indian rupee and these foreign currencies has
changed substantially in recent periods and may continue to fluctuate substantially in the future. As of March
31, 2025, the Company had entered into derivative contracts of ' 3,544.17 Lakhs (PY. ' 834.05 Lakhs) to hedge
exposure to fluctuations in foreign currency risk. The below sensitivity is calculated after netting off the impact of
foreign currency forward contracts which largely mitigate the risk.

59. Additional Regulatory Information (Non Ind AS)

The disclosures required by amendment to Division II of Schedule III of the Companies Act, 2013 are given only to the extent

applicable:

a) There are no transactions that have been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961 which have not been recorded in the books of account.

b) There are no charges or satisfaction of charges yet to be registered with Registrar of Companies beyond the statutory
period.

c) During the year no proceedings has been initiated or pending against the Company for holding any Benami Property
under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made thereunder .

d) Company has not carried our any revaluation in respect of Property, Plant & Equipments and intangible Asset, hence
during the year there has been no change of 10% or more in the aggregate of the Net Carrying value of Assets on
account of revaluation of Assets in respect of Property, Plant & Equipments and intangible assets.

e) There are no intangible assets under development in the Company during the current reporting period.

f) The company has not entered in to any transaction with companies struck off under section 248 of the Companies Act,
2013.

g) The borrowing taken by the company from the banks has been used for the specific purpose for which it was taken.

h) The Company has not been declared as a willful defaulter by any bank or financial institution or other lender in
accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

i) Title deeds of immovable property other than proper taken on lease by duly executed lease agreement are held in the
name of the company.

j) There is no difference in respect of Current assets as per books and details as provided in quarterly returns filed by the
company.

60. The financial statement are approved by the Audit Committee as at its meeting on May 22, 2025 and by the Board of Directors
on May 22, 2025.

Signature to Notes “1" to “60"

As per our report of even date attached herewith. For and on behalf of the Board of Directors of
For, Samir M Shah & Associates Lincoln Pharmaceuticals Limited

Chartered Accountants
(Firm Regd. No. 122377W)

Mahendra G. Patel Hasmukh I. Patel

(Managing Director) (Whole Time Director)

(DIN: 00104706) (DIN: 00104834)

(Samir M Shah) Darshit A. Shah Trusha K. Shah

Partner (Chief Financial Officer) (Company Secretary)

(M.No.111052) (M. No.: A59416)

Place: Ahmedabad Place: Ahmedabad

Date: May 22, 2025 Date: May 22, 2025